Cannae Holdings (CNNE) Soars 0.90% on Analyst Price Target Hike

Cannae Holdings (CNNE) shares surged 0.90% today, marking the third consecutive day of gains, with a total increase of 2.64% over the past three days. The stock price reached its highest level since December 2024, with an intraday gain of 0.99%.

The strategy of buying CNNE shares after they reached a recent high and selling them one week later delivered moderate returns over the past five years. The strategy achieved a 12.00% return, vastly outperforming the benchmark, which returned -100.00%. The excess return was 112.00%, indicating the strategy's ability to capitalize on volatility. With a CAGR of 4.64% and a maximum drawdown of 0.00%, the strategy showed resilience and controlled risk, supported by a Sharpe ratio of 0.16 and a volatility of 29.34%.

RBC Capital analyst Kenneth Lee recently raised the firm's price target on Cannae Holdings (CNNE) to $26 from $22, while maintaining an Outperform rating on the shares. This move reflects a positive outlook on the company's future performance and potential for growth. The analyst's optimism is likely driven by recent developments and strategic initiatives undertaken by Cannae Holdings, which have positioned the company for success in the market.